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    Afar Study Plan: May 2019 Exam Recap

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    Christine Florence Burcer
    The document outlines the study plan for the AFAR exam, including topics covered on the previous exam and topics to be covered in cost accounting and advanced financial accounting and reporting. The previous exam focused on computation questions in foreign currency, cost accounting, installment accounting, partnership accounting, construction accounting, and joint arrangements. The advanced financial accounting study plan allocates 160 hours across topics like revenue recognition, partnership accounting, business combinations, and foreign currency transactions. The cost accounting study plan allocates 100 hours to topics such as cost accumulation, strategic cost management, job order costing, and activity based costing.

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    Afar Study Plan: May 2019 Exam Recap

    Uploaded by

    Christine Florence Burcer
    49 views4 pages
    The document outlines the study plan for the AFAR exam, including topics covered on the previous exam and topics to be covered in cost accounting and advanced financial accounting and reporting. The previous exam focused on computation questions in foreign currency, cost accounting, installment accounting, partnership accounting, construction accounting, and joint arrangements. The advanced financial accounting study plan allocates 160 hours across topics like revenue recognition, partnership accounting, business combinations, and foreign currency transactions. The cost accounting study plan allocates 100 hours to topics such as cost accumulation, strategic cost management, job order costing, and activity based costing.

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    AFAR_Study_Plan.pdf

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    The document outlines the study plan for the AFAR exam, including topics covered on the previous exam and topics to be covered in cost accounting and advanced financial accounting and reporting. The previous exam focused on computation questions in foreign currency, cost accounting, installment accounting, partnership accounting, construction accounting, and joint arrangements. The advanced financial accounting study plan allocates 160 hours across topics like revenue recognition, partnership accounting, business combinations, and foreign currency transactions. The cost accounting study plan allocates 100 hours to topics such as cost accumulation, strategic cost management, job order costing, and activity based costing.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    49 views4 pages

    Afar Study Plan: May 2019 Exam Recap

    Uploaded by

    Christine Florence Burcer
    The document outlines the study plan for the AFAR exam, including topics covered on the previous exam and topics to be covered in cost accounting and advanced financial accounting and reporting. The previous exam focused on computation questions in foreign currency, cost accounting, installment accounting, partnership accounting, construction accounting, and joint arrangements. The advanced financial accounting study plan allocates 160 hours across topics like revenue recognition, partnership accounting, business combinations, and foreign currency transactions. The cost accounting study plan allocates 100 hours to topics such as cost accumulation, strategic cost management, job order costing, and activity based costing.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    1

    AFAR STUDY PLAN

    May 2019 Exam Recap

    1. The exam was composed of 70 theory and computation questions. The


    questions were mostly computation questions that are linked to one another.

    2. Key is to practice solving as many problems as you can.

    3. Topic focus: Foreign currency, cost accounting, installment accounting,


    partnership accounting, construction accounting, and joint arrangements.

    www.icpa.ph
    2

    ADVANCED FINANCIAL ACCOUNTING & REPORTING

    Number of Date Date


    TOPIC Hours Started Ended
    ( New) Revenue from contracts with customers 10
    Five Steps Model Framework 4
    Other revenue recognition issues 4
    FS presentation 2

    Partnership Accounting 25
    Formation 6
    Operations 6
    Dissolution and changes in ownership 6
    Liquidation 7

    Installment sales 6

    Franchise accounting 4
    Determination of revenue, costs and gross profit 2
    FS presentation 2

    Construction accounting 8
    Determination of revenue, costs, and profit 3
    Gross amount due from/to customers 3
    FS presentation 2

    Home Office & Branch Accounting 7


    Transactions on the books of head office and branch 1
    Reconciliation of reciprocal accounts 1
    Preparation of individual and combined FS 1
    Special procedures in the home office and branch operations 1
    Accounting for agency transactions 2

    Business Combination 16

    Separate FS 16
    Investment in subsidiary 8
    FS presentation 8
    Consolidated FS 16
    Date of Acquisition
    After Acquisition
    Intercompany Profit Transactions - Inventories
    Intercompany Profit Transactions - Plant Assets
    Intercompany Profit Transactions - Bonds
    Changes in Ownership Interests
    Indirect and Mutual Holdings
    Subsidiary Preferred Stock, Consolidated EPS, and Taxation

    www.icpa.ph
    3

    Number of Date Date


    TOPIC Hours Started Ended
    Foreign Currency Transactions and Translations 32
    Without hedging activities 8
    Hedging activities 8
    Translation from functional currency to presentation currency 8
    Remeasurement from a foreign currency to the functional 8
    currency

    Not for Profit Organizations 2


    Voluntary health and welfare organizations .5
    Hospitals and other health organizations .5
    College and universities .5
    Other non-profit organizations .5

    Government Accounting 8
    Concepts in government accounting 2
    Budget process 2
    Journal entries 4

    Corporate Liquidation 4
    Statement of affairs 1
    Statement of deficiency 1
    Statement of realization and liquidation 1
    Order of priority of claims 1

    Joint Arrangements 6
    Joint operations 2
    Joint venture 2
    SME 2

    Insurance Contracts 2
    Build, Operate and Transfer 2

    TOTAL HOURS 160

    www.icpa.ph
    4

    COST ACCOUNTING

    Number of Date Date


    TOPIC Hours Started Ended
    Cost Accumulation 26
    Nature and classification of costs 6
    Analysis of cost behavior (variable, fixed, semi-variable, step-
    cost) 8
    Splitting mixed cost (high-low, scatter graph, least-squares
    regressions 12

    Strategic Cost Management 14


    Total quality management 2
    Just-in-time production system 2
    Continuous improvement 2
    Business process re-engineering 2
    Kaizen costing 2
    Product life costing 2
    Target Costing 2

    Job Order Costing 10


    Process Costing 10
    Service Cost 10
    Activity Based Costing 10
    Joint & By Product Costing 10
    Standard Costing 10
    Variable Costing
    Absorption Costing
    TOTAL HOURS 100

    www.icpa.ph

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